World News: Philips to acquire US-based DLO

World News: Philips to acquire US-based DLO

Royal Philips Electronics is to acquire US-based Digital Lifestyle Outfitters (DLO), designer, marketer and distributor of accessories and docking stations for mobile audio-visual devices.

Subject to regulatory approval, the transaction is expected to close in the second quarter of 2007, when DLO will become part of the Philips’ Consumer Electronics division’s Peripherals & Accessories business unit.

Financial details of the transaction were not disclosed.

Peripherals and accessories are among the fastest growing and higher-margin product categories in consumer electronics, and sales in Philips’ Peripherals & Accessories business unit more than doubled between 2003 and 2006, due to a combination of targeted acquisitions and organic growth.

Philips sees the mobility, audio and PC domains as strategic growth areas.

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